Document background
The Acquisition Purchase Agreement is a fundamental transaction document used in Nigerian business acquisitions to formalize and execute the purchase and sale of a business, shares, or assets. This document is essential when one entity seeks to acquire ownership or control of another entity or its assets in Nigeria. It must comply with Nigerian corporate law, particularly the Companies and Allied Matters Act 2020, and may require additional regulatory approvals depending on the transaction size and sector. The agreement typically includes detailed provisions on purchase price, payment mechanisms, warranties, indemnities, conditions precedent, and completion mechanics. It is particularly important in the Nigerian context as it must address specific local legal requirements, tax implications, and regulatory considerations while providing adequate protection for all parties involved in the transaction.
